Category Archives for Legal/taxes

Personal Property Trusts

Trusts

 If you have been reading my articles, you are probably familiar with the concept of creating and using land trusts for privacy and protection of your real estate. However, what about your ownership of notes, mortgages, deeds of trust, leases and options that may appear on public record? What about cars, boats, mobile homes and […]

Continue reading

What Is A Series Limited Liability Company

Most of you have heard of a Limited Liability Company or LLC. A cross between a sole proprietorship or partnership and a corporation, LLCs acts as a shield protecting your personal and business assets from liability in the event of a lawsuit. The Series Limited Liability Company, or SLLC, takes it a step further. What […]

Continue reading

Basics of the Real Estate Contract

The real estate contract is the most often used, yet little-understood tool in the real estate business. Whether you are a rank beginner or seasoned expert, there is no excuse for not knowing and understanding the real estate contract. Real estate contracts are based on common law contract principles, so it is important that you […]

Continue reading

How to Hire a Real Estate Attorney

No real estate course or seminar is a substitute for a good attorney. Finding a good real estate attorney may be difficult, since most attorneys are not themselves investors or familiar with creative transactions. Most attorneys will give you just enough advice to keep them from getting sued, but not enough advice to show you […]

Continue reading

There’s No “Due on Sale Clause” Jail

  The “due-on-sale” clause is probably the most talked about, feared and misunderstood topic in real estate. This article will dispel any misunderstandings you may have about the due-on-sale and explain how to take a property subject to an existing mortgage. What is the Due-on-Sale Clause? Before we discuss how to get take a property subject […]

Continue reading

How to Save Up to 90% on Title Insurance

Land Trusts

If you have ever bought or sold real estate, you have probably paid for title insurance. What exactly is title insurance? Why do we need it? How can I save money on title insurance? These are common questions asked by real estate investors, both rehabbers, and landlords. Whenever title passes, the seller usually gives a […]

Continue reading

The Mortgage Elimination Scam

The mortgage elimination scam has been sweeping the country. You’ve seen the emails: “Legally eliminate your mortgage!!” Can this possibly be true? Well, I’ve read the claims and researched the law and here’s what I came up with. The Claim The claim is that you can legally eliminate your mortgage based on an accounting loophole […]

Continue reading

Taxes on Subject to Deal

Taxes on subject to dealscan be a bit complicated.  For example, you buy a property “subject to” an existing loan. You sell the property on an installment land contract or lease/option. What are the tax ramifications? Part One – Determining Your Basis Your tax basis is basically what you paid for a property. If you […]

Continue reading

Land Trusts Video

Land Trusts

Land trusts are an excellent tool for keeping your ownership of properties secret from the public. Attorneys, tenants, ex-spouses, the government and others can easily find the owner of a property online.  Anyone with a judgment can slap a lien on your property, prevent you from selling or refinancing your property. If you want to […]

Continue reading

Do You Need a License to Wholesale Properties?

You buy a property, you wholesale it, you profit. Do you need a license to wholesale properties? In most cases, the answer is “no”. Real estate brokerage is an activity regulated by states on their own terms, thus each state defines which activities require a license. There is a lot of vagueness and ambiguity in some of […]

Continue reading